When making decisions about production and allocation,which type of system depends on individual producers and consumers to create a combination of supply and demand?
A) Planned economy
B) Communism
C) Private economy
D) Market economy
E) Socialism

Question

Quizplus · Accepted Answer

A market economy relies on the interaction between individual producers and consumers to determine the pricing and allocation of goods and services. Supply and demand drive the decisions made in this system, rather than central planning or government control.

When Making Decisions About Production and Allocation,which Type of System